DMP after recent mortgage.

[Deleted User]

Looking for some advice really.

Can I start a DMP after a recent mortgage, weeks not months.

Hope you may be able to help me. Thank you

changeforbetter

It's a good question - is this your first mortgage?

I do know that the DMP does not have to directly have any relation to an existing mortgage, as I had a mortgage running when I started my DMP.

How else it relates to mortgages I'm not sure, so I would also be interested to hear any more expert views.

I'm renewing in a couple of years, hoping that isn't an issue for sure.

sourcrates

One will not effect the other, why would it ?

Unless your credit accounts default, and you need to renew your mortgage anytime in the next six years.

Apart from that they are entirely separate entities.

changeforbetter

sourcrates wrote: »

One will not effect the other, unless your credit accounts default, and you need to renew your mortgage anytime in the next six years.

Hi Sourcrates,

I have an ongoing mortgage currently with Nationwide. This is up for renewal in 2018, would this likely be affected in any way?

My CC accounts are pretty much all listed as Default currently.

SC did know I had a mortgage, but haven't mentioned I might have any difficulty in renewing it?

Is there likely to be any problem (as this would only be to renew, not take out with a different bank or a new mortgage)?

sourcrates

changeforbetter wrote: »

Hi Sourcrates,

I have an ongoing mortgage currently with Nationwide. This is up for renewal in 2018, would this likely be affected in any way?

My CC accounts are pretty much all listed as Default currently.

SC did know I had a mortgage, but haven't mentioned I might have any difficulty in renewing it?

Is there likely to be any problem (as this would only be to renew, not take out with a different bank or a new mortgage)?

In the end it's up to the lender, and there lending criteria.

Obviously a DMP will effect your credit, but may be to your advantage that it's the same lender your with now.

changeforbetter

sourcrates wrote: »

In the end it's up to the lender, and there lending criteria.

Obviously a DMP will effect your credit, but may be to your advantage that it's the same lender your with now.

Yes, I had presumed that by staying with the same mortgage provider would mean that the mortgage renewal would not be influenced by my being in a DMP.

If I was moving to a different provider then very different I know. I'd likely get into difficulty with that one!

andyfromotley

As it currently stands Nationwide do not credit check exiating customers switching their mortgage to a different product with no ectra borrowing.